foreclosures: Go ahead and call me ignorant but... - 03/31/09 06:55 AM
...this makes no sense to me at all.
When a home owner has a mortage payment that includes PMI or MIP and it is paid for every month how the heck can the insurance company come after the home owner for a deficiency balance in cases of foreclosure or … (20 comments)
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foreclosures: Bank owned homes and their agents: Where does fiduciary responsibility end and human responsibility start? - 09/01/08 03:37 PM
One of my biggest gripes with showing bank owned homes is this: The seller (bank, asset manager, Wizard of Oz...) does not have to provide full disclosure on the home.Heck, they don't even have to provide partial disclosure on anything that has to do with the home.
Yes, I get … (94 comments)
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foreclosures: Foreclosure sale in St. Clair County MI - one for the "timeline" record books - 07/29/08 06:07 AM
Wow. WOW. I still have trouble believing it, and it happened to my buyer client. The bank owned home below (overgrown trees and shrubbery included :-) was sold to my buyer client in just 15 days from start to finish. The home is located in Marysville MI (St. Clair … (9 comments)
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foreclosures: Buyer agency in Michigan - What does your buyers agent bring to the table? - 07/21/08 05:48 AM
I can write all day about first time home buyers and repeat home buyers in my neck of the woods in Michigan (Macomb County) but I really wanted to write today about the intangibles that a buyers agent brings to you, the consumer, when purchasing a home.When I represent you as … (18 comments)
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foreclosures: I never leave home without this... - 07/07/08 08:50 AM
I have had this as part of my buyers package for a couple of months now, and also have copies in my briefcase for those that I meet that are in the "curious about.." stages of purchasing. Please feel free to print it out to give to your buyer clients. (You … (10 comments)
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foreclosures: A foreclosure success story - finally one to rave about instead of ranting. - 05/30/08 05:55 AM
I haven't been shy about stating my opinion when I feel the asset managers of foreclosures in Macomb County Michigan are dropping the ball and shirking their responsibility to neighborhoods. This morning however I would like to give a big THANK YOU to all of those involved with the care of … (15 comments)
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foreclosures: Sometimes you have to laugh at the absurdity of it..."Hurry up and wait" - 05/22/08 11:35 AM
A buyer client recently had a verbal offer accepted on a foreclosure home in Macomb County.
As I've stated before, buying a foreclosure is no stress-free procedure.You must have patience in order to get through the process. That, and a sense of humor. In the initial offer we had 10 days … (13 comments)
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foreclosures: At the top of the list of "What will I need to buy a foreclosure?" in Macomb County? - Patience - 05/14/08 05:53 AM
It has been well over a year since I've had buyer clients that didn't view at least one foreclosure in Macomb County MI, for most it has been many foreclosure properties before they decide on the home they wish to purchase.You would think that by now after viewing hundreds of them … (14 comments)
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foreclosures: The foreclosures almost did me in - overcoming "burnout" - 04/21/08 06:29 AM
**Caution: Honest personal post ahead**To say it's been a rough 4-6 weeks would be an understatement.Towards the end of last week the stress I was feeling inside was something I hadn't experienced before and almost overwhelming.
In the past 6 weeks I've logged over 1500 miles on my poor car. (I … (25 comments)
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foreclosures: Buying a foreclosure and the utilities are disconnected? - 04/19/08 02:41 PM
More often than not, when a home is bank owned the utilities to the homehave been turned off. I would venture to guess that in the Metro Detroitarea 75% of the foreclosed homes are without electricity, gas or water.Pre-planning when writing your offer to purchase the home and estimatingclosing and inspection … (11 comments)
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foreclosures: What does "Final and Best" mean? - 04/12/08 06:35 AM
If you have been looking at foreclosures recently you may have encountered this situation and been asked to fill out yet another form.
One of the newer forms I am seeing recently is a “Multiple Offer Disclosure Form”. This form is being used by many real estate brokers to … (25 comments)
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foreclosures: Advisory committees for banks / REO managers? - 04/06/08 05:03 AM
Late yesterday afternoon while driving home after showing homes I had one of those “lightbulb” moments go off inside my head. (No jokes from the peanut crowd please) All of the homes I viewed were bank foreclosures with the exception of one lovely home.
I jotted down notes on … (19 comments)
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foreclosures: One-sided-itis: When a contract is favored heavily to one party. - 03/01/08 07:20 AM
Yesterday while going over a VA required offer to purchase contract and various addendums I thought of that word. One-sided-itis. I have never, and I mean NEVER, seen a contract more one-sided (of course heavily in favor of the seller) than I have with their mandatory contract to purchase.
My buyer client … (15 comments)
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foreclosures: It's sold? How can that be? - 02/28/08 05:27 AM
A phone call the other day illustrated to me once again how quickly our real estate market here in Macomb County is changing.
The gentleman who called told me that he had been on my website frequently and had his eye on a bank owned home that was on the market. He … (23 comments)
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foreclosures: Perhaps now they'll believe. - 02/27/08 06:41 AM
For several years those of us who live in Michigan and work in the real estate industry have been shouting out to anyone that will listen that the housing slump hit us earlier than most areas of the country.
Why did it hit us so hard and so much earlier? Our economy … (18 comments)
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foreclosures: Chesterfield Township foreclosures - bank owned homes for sale. - 02/20/08 07:33 AM
If you are looking for a wonderful home in Macomb County one of the communitiesyou may be drawn to is Chesterfield Township. As of the time of this posting, the following homes are on the market and are bankowned / foreclosures. Some of these homes are real bargains!
There are 3 … (0 comments)
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foreclosures: Below zero tomorrow in Macomb County - what will I be doing? - 02/09/08 05:22 AM
Showing homes of course!Late tomorrow morning and into the early afternoon I will be with my buyer clientviewing homes. We have a "strategy" to combat the predicted cold front that will be moving in to our area:Dress in layers!
Dress for comfort!Stop for hot cocoa!As most of the homes we'll be … (28 comments)
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foreclosures: A Foreclosure + a FHA Buyer = A success story! - 01/31/08 05:37 AM
In the Metro Detroit area two scenarios we are seeing on a daily basis in the real estate industry are the increase in homes on the market that are foreclosures (bank owned) and the growing popularity of FHA mortgages for home buyers.
Typically many home buyers who want to … (25 comments)
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foreclosures: An update to "I was proved wrong and I hope it continues" - 01/06/08 03:18 AM
A few days ago I wrote an article about an offer that a buyer client placed on a foreclosed upon home and how quickly we received a response from the bank/owner. Karen Moorhead and I have been in contact with each over this past week, as she also has an offer … (17 comments)
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foreclosures: I was proved wrong and hope it continues! - 01/01/08 07:38 AM
This past Friday I wrote an offer on a bank owned property for a buyer client. We got together for lunch near his workplace and I came back to my home office to fax it over to the listing agent.
I had cautioned my buyer that we probably would not hear anything … (29 comments)
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